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2007-06-01 03:23 ET - News Release
Mr. Michael Townsend reports
LATEEGRA APPOINTS THURSTON, ALLEN AS VPS
Lateegra Gold Corp. has appointed Brian Thurston as executive vice-president, and Gordon Allen has joined the company as vice-president, exploration.
Mr. Thurston, executive vice-president
Mr. Thurston, HBSc (geology), has more than 15 years of exploration and project management experience, 12 of which were spent in Latin America. Most recently, Mr. Thurston was project manager for Pacific Ridge Exploration Corp. and was instrumental in a new uranium discovery (Lucky 7 zone) near Baker Lake, Nunavut, Canada. Mr. Thurston was part of the initial geological exploration team that evaluated the current landholdings of Aurelian Resources Inc. in Ecuador in 2002 and held the position of country manager for Aurelian in Ecuador in 2004 and 2005.
Mr. Thurston brings extensive exploration and logistics operational expertise to the company, along with first-hand knowledge of environmental, political and governmental processes in Peru, Ecuador and Mexico. His primary role will be to lead the exploration and development of the company's various Latin American projects.
"Brian has an outstanding track record of project exploration combined with years of experience managing logistics for projects in Canada, Ecuador and Mexico. Having been involved with Aurelian as a consulting geologist in the early stages through to becoming their country manager, Brian brings valuable knowledge of Ecuador that can be directly related to our Condor project," said Michael Townsend, president of Lateegra. "His years working on epithermal gold prospects in northern Mexico also make him a valuable component of our team which will help lead the development of mining operations at Picacho."
Mr. Allen, vice-president, exploration
Mr. Allen, PGeo, brings more than 32 years of experience in the exploration industry, 14 of which were spent in Latin America. Since 2003, Mr. Allen worked for Far West Mining Ltd. as its exploration manager on the Candelaria project in northern Chile. The Santo Domingo Sur deposit, a new discovery made during this program, has a currently published indicated resource of 139.4 megatonnes of 0.59 per cent Cu. Mr. Allen has extensive experience in the exploration for a wide variety of deposit types, but specifically for porphyry copper-gold, volcanogenic massive sulphide, epithermal precious metal and iron-oxide copper-gold deposits. Mr. Allen has worked in Canada, the United States, Latin America and Africa on precious and base metal exploration projects ranging from grassroots to feasibility stage. He is a professional geologist registered with APEGBC and holds an honours BSc degree with a specialization in geology from the University of British Columbia.
"Mr. Allen is a very talented geologist, a team player and a strong leader," said Michael Townsend, president of Lateegra. "His knowledge and experience will be instrumental to our ongoing exploration and development efforts at Picacho, our flagship Mexican project."
"The company is excited about having Brian and Gordon on board. Having worked productively together in often engaging and challenging environments over a six-year period in North America and South America, Lateegra will benefit from their synergies and experiences as we advance our Picacho mine in Mexico, and our El Condor project in Ecuador," said Chris Verrico, chief executive officer of Lateegra. "We are indeed very fortunate to have two very experienced exploration geologists join our team at a time when experienced geologists, not to mention teams, are difficult to assemble."
The company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 650,000 common shares of the company for a period of two years at a price of 60 cents per share.
We seek Safe Harbor.
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2007-06-04 19:39 ET - News Release
Mr. Christopher Verrico reports
LATEEGRA PRESIDENT ANNOUNCES SETTLEMENT WITH BCSC
In Stockwatch news June 1, 2007, the British Columbia Securities Commission reported a settlement agreement made between the executive director of the BCSC and Lateegra Gold Corp.'s Michael Townsend. The settlement arose as a result of Mr. Townsend failing to file in a timely fashion, as is required, share transactions performed by him through an offshore account in two companies for which he served as a director at the time. One of those companies was Lateegra Gold. The BCSC stated that the period in question was between January, 2005, and August, 2006. On Aug. 30, 2006, Mr. Townsend filed the required insider reports. As a result of the agreement, Mr. Townsend has agreed to pay a fine totalling $41,250 for failure to file insider reports in a timely fashion, and has also agreed to a one-year ban on trading securities, except in limited circumstances. He has also agreed to resign from any position he holds as officer or director of any issuer, with the exception of Lateegra Gold, for which he will be entitled to remain as a director and officer. He is also prohibited from engaging in investor relations or acting as a director or officer of any other issuer for one year.
"The board of directors have spoken with Mr. Townsend concerning this and accepts his apology. He has stated his deep regret for this oversight, and has pledged to maintain greater vigilance over his reporting activities moving forward," said Chris Verrico, chief executive officer of Lateegra. "Michael has been an instrumental force behind Lateegra, having served as president and a director since Oct. 23, 2002, and we continue to support him through this process."
We seek Safe Harbor.
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2007-06-06 09:38 ET - In the News
See In the News (C-*BCSC) BC Securities Commission
The Vancouver Sun reports in its Wednesday edition last summer, the Vancouver stock market cops found 65 boxes of records from an offshore brokerage firm showing that at least 20 Vancouver-area residents had been secretly dealing stock through offshore accounts. The Sun's David Baines writes that at the time, Insp. George Pemberton, head of the Vancouver RCMP Integrated Market Enforcement Team, said there are only three reasons for a Canadian resident to set up an offshore account, and all of them are illegal -- money-laundering, tax evasion and market manipulation. I suppose another reason might be to hide assets from creditors, including estranged spouses. For whatever reason, Michael Townsend, 39, president of Vancouver-based Lateegra Gold Corp. and former president of West Hawk Development Corp., was one of those surreptitious traders. The B.C. Securities Commission released a settlement agreement late last week in which Mr. Townsend confessed to trading hundreds of thousands of shares of Lateegra and West Hawk through a Turks & Caicos account without filing insider trading reports. He agreed to a one-year trading ban. Well, not really a trading ban, rather an agreement to restrict his trading to one account, which is what most law-abiding citizens do anyway. He also agreed to resign as an officer or director, and not to engage in investor relations for any B.C. issuer for a year. Well, not all issuers. He can still do this sort of work for Lateegra, which means he can continue to spread his promotional patter on CKNW's dreadful investment infomercial program, Market Matters, as he has done several times before. He also agreed to pay a $40,000 penalty and late filing fees totalling $1,250. Otherwise, he is back in business.
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2007-06-05 19:53 ET - News Release
Mr. Christopher Verrico reports
LATEEGRA PROVIDES UPDATE
Lateegra Gold Corp. has provided the following update.
Further to the company's news in Stockwatch of June 4, 2007, concerning the settlement agreement reached between Michael Townsend and the B.C. Securities Commission, the company advises that it has been put on notice by the TSX Venture Exchange that the acceptability of Mr. Townsend to act as an officer or director of the company is under review by the exchange. Should the exchange determine that he is unsuitable, he may be required to resign from the company at some time in the future.
We seek Safe Harbor.
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2007-06-15 17:41 ET - News Release
Also News Release (U-TRGD) Tara Gold Resources Corp
Mr. Chris Verrico of Lateegra reports
LATEEGRA DRILLS 11.28 METERS OF 15.57 GRAMS GOLD AND 32.41 GRAMS SILVER PER TONNE AT PICACHO
Lateegra Gold Corp. and Tara Gold Resources Corp. are releasing the results from the phase I drill program at El Picacho, Sonora, Mexico. Lateegra Gold is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project. This first phase of the drill program, conducted by Lateegra, consisted of 2,569 metres in 14 drill holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide-spaced drill holes from this latest program tested approximately 700 metres of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 metres to the northwest of the other 13 holes and outside of the area of underground development.
Results include 6.13 metres grading 4.73 grams per tonne (g/t) gold (Au) and 60.26 g/t silver (Ag) in drill hole MPDH07-014, 9.43 metres grading 7.80 g/t Au and 72.89 g/t Ag in MPDH07-002, and 11.28 metres grading 15.57 g/t Au and 32.41 g/t Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported Stockwatch news April 25, 2007, were five metres (true thickness of 4.3 m) of 12.81 g/t Au and 27.80 g/t Ag.
EL PICACHO STRUCTURE -- MINERALIZED INTERVAL WEIGHTED AVERAGE
Hole From To Interval True width Au Ag
No. (m) (m) (m) (m) g/t g/t
*MPDH07-001§ 80.5 85.5 5.00 4.33 12.81 27.80
MPDH07-002 126.75§ 128.9 2.15 1.74 1.94 20.07
and§ 133.65 145.3 11.65 9.43 7.80 72.89
MPDH07-007§ 155.5 159.6 4.10 3.73 1.16 2.98
and§ 164.5 183.5 19.00 17.28 0.84 1.16
incl.§ 164.5 170.5 6.00 5.46 1.25 0.62
MPDH07-008 167.37 167.87§ 0.50 0.48 3.32 106.00
MPDH07-010 151.85 155.35§ 3.50 3.17 4.58 24.20
MPDH07-013 127.95 142.45§ 14.50 11.28 15.57 32.41
incl.§ 132.65 140.5 7.85 6.11 23.59 39.68
MPDH07-014§ 155.2 157.9 2.70 1.72 1.95 17.87
and§ 162.7 172.3 9.60 6.13 4.73 60.26
incl.§ 166.9 172.3 5.40 3.45 6.99 99.12
* reported in Stockwatch news April 25, 2007
Note: MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no
significant values.
The company is very pleased with these results as they provide both verification of historically reported drill hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.
"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says chief executive officer Chris Verrico. "We are now aware of the plunging, high-grade ore zones within the El Picacho structure and will be targeting some of these ore shoots in our second phase drill program."
The El Picacho structure will be the primary focus of the company's phase II, 5,000-metre, drill program estimated to begin in mid-July, 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid-2008.
The Dos Amigos structure, which boasts grab samples with grades as high as 87.5 g/t gold and 4,880 g/t silver (see Stockwatch news Jan. 23, 2007), is also presently being evaluated. The structure has a known strike length of over three kilometres and has never been drilled.
"Although our focus for the near term is on the El Picacho structure and reserve calculations, the Dos Amigos structure is a very promising target that adds plenty of blue sky to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year," said Mr. Verrico.
The company is compliant under National Instrument 43-101 for the Picacho project. Jeffery Reeder, PGeo, is the qualified person responsible for the exploration program, and for the supervision of the associated quality-control/quality-assurance programs. The quality-control program consists of inserting standards, duplicates and blanks within the sample sequence.
The company is also granting incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 250,000 common shares of the company for a period of two years at a price of 60 cents per share.
We seek Safe Harbor.
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2007-06-18 03:58 ET - News Release
Also News Release (U-TRGD) Tara Gold Resources Corp
Mr. Chris Verrico of Lateegra reports
LATEEGRA DRILLS 11.28 METERS OF 15.57 GRAMS GOLD AND 32.41 GRAMS SILVER PER TONNE AT PICACHO
Lateegra Gold Corp. and Tara Gold Resources Corp. have released results from the phase I drill program at El Picacho, Sonora, Mexico.
Lateegra Gold is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project.
This first phase drill program conducted by Lateegra consisted of 2,569 metres in 14 drill holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide-spaced drill holes from this latest program tested approximately 700 metres of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 metres to the northwest of the other 13 holes and outside of the area of underground development.
Results include 6.13 metres grading 4.73 grams per tonne gold and 60.26 g/t silver in drill hole MPDH07-014, 9.43 metres grading 7.8 g/t Au and 72.89 g/t Ag in MPDH07-002, and 11.28 metres grading 15.57 g/t Au and 32.41 g/t Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported in a news release in Stockwatch on April 25, 2007, were five metres (true thickness of 4.3 metres) of 12.81 g/t Au and 27.80 g/t Ag. A location map of the drill holes can be viewed on the company's website. The results of the drilling are presented in the attached table.
EL PICACHO STRUCTURE -- MINERALIZED INTERVAL WEIGHTED AVERAGE
True
Hole From To Interval width Au Ag
No. (m) (m) (m) (m) (g/t) (g/t)
*MPDH07-001 80.5 85.5 5.00 4.33 12.81 27.80
MPDH07-002 126.75 128.9 2.15 1.74 1.94 20.07
and 133.65 145.3 11.65 9.43 7.80 72.89
MPDH07-007 155.5 159.6 4.10 3.73 1.16 2.98
and 164.5 183.5 19.00 17.28 0.84 1.16
incl. 164.5 170.5 6.00 5.46 1.25 0.62
MPDH07-008 167.37 167.87 0.50 0.48 3.32 106.00
MPDH07-010 151.85 155.35 3.50 3.17 4.58 24.20
MPDH07-013 127.95 142.45 14.50 11.28 15.57 32.41
incl. 132.65 140.5 7.85 6.11 23.59 39.68
MPDH07-014 155.2 157.9 2.70 1.72 1.95 17.87
and 162.7 172.3 9.60 6.13 4.73 60.26
incl. 166.9 172.3 5.40 3.45 6.99 99.12
* Reported in Stockwatch April 25, 2007
MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no significant values.
The company has released these results as they provide both verification of historically reported drill hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.
"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says chief executive officer, Chris Verrico, "We are now aware of the plunging, high-grade ore zones within the El Picacho structure and will be targeting some of these oreshoots in our second phase drill program."
The El Picacho structure will be the primary focus of the company's phase II, 5,000-metre, drill program estimated to begin in mid-July, 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid-2008.
The Dos Amigos structure, which boasts grab samples, with grades as high as 87.5 grams per tonne gold and 4,880 g/t silver (in news release in Stockwatch Jan. 22, 2007), is also presently being evaluated. The structure has a known strike length of over three kilometres and has never been drilled. "Although our focus for the near term is on the El Picacho structure and reserve calculations," says chief executive officer, Chris Verrico. "The Dos Amigos structure is a very promising target that adds plenty of 'blue sky' to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year."
The company is compliant under National Instrument 43-101 for the Picacho project. Jeffery Reeder, PGeo, is the qualified person responsible for the exploration program, and for the supervision of the associated quality control/quality assurance programs. The quality-control program consists of inserting standards, duplicates and blanks within the sample sequence.
The company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 250,000 common shares of the company for a period of two years at a price of 60 cents per share.
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§09:32:40 V 0.57 +0.07 5,000 85 Scotia 7 TD Sec K
§09:32:40 V 0.57 +0.07 10,000 1 Anonymous 7 TD Sec K
§09:32:40 V 0.57 +0.07 2,000 7 TD Sec 7 TD Sec K
§09:32:40 V 0.57 +0.07 5,500 7 TD Sec 7 TD Sec K
§09:32:23 V 0.58 +0.08 8,000 5 Penson 9 BMO Nesbitt K
§09:32:22 V 0.57 +0.07 10,000 7 TD Sec 99 Jitney K
§09:31:50 V 0.59 +0.09 1,000 5 Penson 2 RBC K
§09:31:27 V 0.57 +0.07 500 7 TD Sec 1 Anonymous K
§09:30:33 V 0.59 +0.09 15,000 1 Anonymous 2 RBC K
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2007-06-19 18:20 ET - News Release
Mr. Chris Verrico reports
LATEEGRA GOLD ANNOUNCES ADDITION TO TECHNICAL ADVISORY BOARD
Lateegra Gold Corp. is naming James A. McCrea, PGeo, to the company's technical advisory board.
Mr. McCrea, a consultant resource geologist, has more than 18 years experience in exploration, mining geology and mineral resource estimation. His experience was gained through working for junior mining/exploration companies and engineering companies SRK and Snowden. His geological expertise ranges from technical review and due diligence to resource estimation and feasibility studies. He has experience in a range of commodities, but primarily gold and silver, in a variety of geographic settings around the world with particular focus on Central and South America. Mr. McCrea performed orebody modelling and resource estimation for the successfully targeted takeover of Cumberland Resources Ltd. by Agnico-Eagle Mines Ltd. and more recently he completed mineral resource estimations underpinning continuing or future feasibility studies for companies such as Silver Standard Resources Inc. and Candente Resource Corp. to mention but a few.
"Jim's expertise will be instrumental in assisting the company as we progress the El Picacho mine property in northern Mexico towards feasibility with an aim to define a sizable orebody enabling company plans to justify expansion and renewal of the existing milling facilities," notes Chris Verrico, chief executive officer of Lateegra. "We are particularly excited at having someone as knowledgeable and experienced as Jim on our advisory board."
The company is also granting incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 100,000 common shares of the company for a period of two years at a price of 65 cents per share. The vesting period of the options will be in accordance with the company's stock option plan approved at the recent annual general meeting.
We seek Safe Harbor.
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2007-07-11 13:16 ET - News Release
Mr. Chris Verrico reports
LATEEGRA UPDATES EXPLORATION IN ECUADOR
Lateegra Gold Corp. has provided the following update on exploration work being carried out on the company's 5,600-hectare M10 precious and base metal property located 50 kilometres east of the capital Quito, Ecuador. The update is provided by MPH Ventures Corp. which has an option to earn up to a 50-per-cent interest in the M10 property (see news in Stockwatch on Dec. 8, 2006).
The property is located within the intra oceanic island arc sequence of the Machuchi unit approximately five km north along strike of Cornerstone Capital's La Plata massive sulphide deposit, which is contained within the same stratigraphy. Structurally the La Plata deposit is contained within an anticline, the axis of which continues onto the M10 property. To the northeast of MPH Ventures' properties lies the La Florida mine which is currently extracting high-grade gold and silver ore from extensive quartz veins. These veins trend east-west and it is the company's belief they have the potential of continuing onto its property. No systematic exploration has ever been undertaken in this area.
MPH Ventures has been undertaking geological exploration of the M10 property since February, 2007. Thus far, the exploration work has consisted of detailed geological mapping of the area, rock chip sampling of outcrops and float, stream sediment and soil sampling, and the taking of panned concentrate samples. Samples are prepped in Quito by the internationally respected laboratory group Inspectorate and pulps are shipped to Lima for analysis. A vigorous quality assurance/quality control (QA/QC) system has been emplaced involving the insertion of standards (from Canadian labs), blanks and duplicates. MPH Ventures is encouraged with the assayed results received to date.
A more comprehensive field report from MPH vice-president of exploration, Al Cole, can be found on MPH Ventures' website.
MPH will continue this work to complete coverage of the M10 property. In September and October, 2007, a geophysical program involving induced polarization, resistivity and magnetics will be conducted. These are proven techniques in the discovery of massive sulphide deposits which are blind or have subtle surface exposure.
MPH Ventures has employed CINGE, the premier environmental impact study group in Ecuador, to complete an environmental impact assessment (EIA) for the M10 prospect. The terms of reference for this report have been approved by the Ecuadorian Ministry of Mines and Energy and the draft report is almost complete.
MPH has formed a very good relationship with the local people who live on and around the prospect and are mostly employed in agricultural activities such as dairy and cane farming. A community relations officer has been appointed to explain the company's activities to the community and to listen to and report to it any concerns the community may have. Currently the company has 12 local employees and this number will increase greatly as its activity increases in the coming months.
MPH Ventures has several community development initiatives under way. These include replacing the church floor in Reunion Toachi township, employing an engineer to oversee the construction of a bridge and the planting of 500 saplings to be used in erosion control.
Given the proximity to other deposits and the presence of anomalous grades throughout the property, it is the belief of the company that it is in the right location to potentially discover a high-quality ore deposit.
MPH Ventures has an option to earn a 50-per-cent interest in the 4,915-hectare M10 concession from Lateegra Gold.
The M10 property was identified by Fredy Salazar, who spent several years as a senior geologist for Newmont Mining, and provided consulting services for Aurelian Resources. Mr. Salazar was instrumental in the identification of the land package known as the Condor project held by Aurelian Resources located in the emerging gold belt in southern Ecuador.
David J. Busch, BA, BSc, PGeo, is the qualified person acting on behalf of MPH Ventures, who, under the meaning of National Instrument 43-101, has reviewed the data in this news release.
We seek Safe Harbor.
Optionen
1
Jul 10/07 Jul 09/07 Verrico, Christopher Direct Ownership Options 50 - Grant of options 234,000 $1.000
Jul 10/07 Jul 09/07 Townsend, Michael Indirect Ownership Options 50 - Grant of options 234,000 $1.000
Jul 10/07 Jul 09/07 Thurston, Brian Direct Ownership Options 50 - Grant of options 400,000
